Institution: ECB's rate cut today is a foregone conclusion, further cuts expected in the future

Lazard Asset Management's Chief Market Strategist Ronald Temple stated that the continued decline in eurozone inflation, coupled with the consistently dovish rhetoric from European Central Bank officials, makes a rate cut this Thursday almost a foregone conclusion.

The European Central Bank had previously defined the 1.75%-2.25% interest rate range as a neutral monetary policy level. "Any signal of a change in this view would be surprising. Given the more aggressive trade stance the U.S. has taken towards the EU, rates are still expected to drop to 1.5% by the end of the year."

According to LSEG data, the money market expects rates to be around 1.70% by the end of the year, slightly higher than the strategist's forecast.